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Selling Rifles To The Natives... by Boondawg
Started on: 06-28-2020 12:03 PM
Replies: 8 (164 views)
Last post by: Hudini on 07-01-2020 04:47 AM
Boondawg
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Report this Post06-28-2020 12:03 PM Click Here to See the Profile for BoondawgClick Here to Email BoondawgSend a Private Message to BoondawgEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Remington Arms, America’s oldest gun maker, is preparing to file for Chapter 11 bankruptcy protection and is in advanced talks for a potential sale to the Navajo Nation, The Wall Street Journal reported on Friday.

Remington is making preparations for the Native American tribe to serve as the lead bidder to purchase its assets out of Chapter 11.


https://www.google.com/sear...e=#spf=1593359696086

I hope they don't hold a grudge...

[This message has been edited by Boondawg (edited 06-28-2020).]

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maryjane
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Report this Post06-28-2020 02:15 PM Click Here to See the Profile for maryjaneSend a Private Message to maryjaneEdit/Delete MessageReply w/QuoteDirect Link to This Post
Remington has been in trouble for about a decade, and originally filed for bankruptcy in early 2018, then emerged from Ch 11 a few months later.

In that same year, after getting financing from investment banks, Remington turned down a $500 million offer from Navajo Nation because it didn't want to stop producing firearms for public sale and didn't want to see a big shakeup in upper management.

The Nation's stated intent at that time was to produce firearms for the military and Law Enforcement only.

As an interesting (and somewhat ironic) aside, (which may be conjecture) Reuters News added this bit of irony to explain Remington's financial troubles in 2018:

 
quote
Remington’s bankruptcy was partly triggered by a decline in gun sales as President Donald Trump’s election eased firearm enthusiasts’ worries about increased regulation.

https://www.reuters.com/art...limate-idUSKCN1II24T
https://pitchbook.com/news/...d-from-navajo-nation
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Boondawg
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Report this Post06-28-2020 03:46 PM Click Here to See the Profile for BoondawgClick Here to Email BoondawgSend a Private Message to BoondawgEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by maryjane:

As an interesting (and somewhat ironic) aside, (which may be conjecture) Reuters News added this bit of irony to explain Remington's financial troubles in 2018:

"Remington’s bankruptcy was partly triggered by a decline in gun sales as President Donald Trump’s election eased firearm enthusiasts’ worries about increased regulation."



And I heard it had to do with the fallout from school shootings and the public's skewed perception of "assault" rifles.
As is usually the case, I imagine the truth probably lies somewhere in the middle.
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maryjane
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Report this Post06-28-2020 05:30 PM Click Here to See the Profile for maryjaneSend a Private Message to maryjaneEdit/Delete MessageReply w/QuoteDirect Link to This Post
That was part of it. Cerebrus Capital Management, same company that ran Chrysler into the ground in the same time period owned Remington and Bushmaster Firearms thru their Freedom Group subsidiary and it was a bushmaster that was used in both the 2002 DC sniper attacks and later the 2012 Sandy Hook school shooting. Cerebrus immediately began to divest itself of the Bushmaster brand and Freedom Group, which also owned Magpul and a few other arms brands. They were unable to find a buyer for Freedom Group, and just bought out the equity holders in 2013. Cereberus/Remington then concentrated on hunting and shooting brands Remington and Marlin.
By the mid 20 teens, Remington sales had began to drop, simply because of crappy products and they had to file Ch11 in 2018 but fared no better since then and have continually lost $$ on Remington products. Unable to compete with other brands after they stopped making "evil black rifles" Remington is again in dire financial straits. Ruger, Mossberg, Browning, Colt etc are their main competitors.
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rinselberg
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Report this Post06-28-2020 08:52 PM Click Here to See the Profile for rinselbergClick Here to visit rinselberg's HomePageClick Here to Email rinselbergSend a Private Message to rinselbergEdit/Delete MessageReply w/QuoteDirect Link to This Post
There's the class action lawsuit and (subsequent?) Remington trigger assembly recall. I don't know if that's something that sets Remington apart from other firearms manufacturers in a really big way. It's just another item of flotsam that roils my stream of consciousness because I had a car radio turned on at some essentially random moment. I think it was when I was in St Louis during the summer of 2019 when that happened.

https://www.upi.com/Top_New...ggers/3461540388654/
https://xmprecall.remington.com

The only thing I'm gunning for with this is "fame."

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randye
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Report this Post06-28-2020 11:40 PM Click Here to See the Profile for randyeClick Here to visit randye's HomePageClick Here to Email randyeSend a Private Message to randyeEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by rinselberg:


The only thing I'm gunning for with this is "fame."



But the only thing you are achieving is demonstrating once again how MENTALLY ILL you really are.

GET HELP RONALD
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Hudini
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Report this Post06-29-2020 07:51 PM Click Here to See the Profile for HudiniClick Here to Email HudiniSend a Private Message to HudiniEdit/Delete MessageReply w/QuoteDirect Link to This Post
You must be doing something wrong if you can't make money now.

How the coronavirus led to the highest-ever spike in US gun sales

https://www.bbc.com/news/world-us-canada-52189349

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maryjane
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Report this Post07-01-2020 01:29 AM Click Here to See the Profile for maryjaneSend a Private Message to maryjaneEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by Hudini:

You must be doing something wrong if you can't make money now.

How the coronavirus led to the highest-ever spike in US gun sales

https://www.bbc.com/news/world-us-canada-52189349


Yep, Remington's firearms have really gone downhill on the quality side over the decades.
I do have one, but only because it was my father's old 60s something Nylon 66..one of the first rifles with all-in-one plastic stock and fore grip.
Mine is one of the few that shoots straight and true, tho the chrome is about gone from the barrel and receiver cover. It's my wife's favorite tho I usually carry it on the 4 wheeler as a ranch rifle and I've shot a bunch of aquatic rodents with it, several coyotes and a couple of feral hogs.

Not mine, but it looks like this

[This message has been edited by maryjane (edited 07-01-2020).]

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Hudini
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Report this Post07-01-2020 04:47 AM Click Here to See the Profile for HudiniClick Here to Email HudiniSend a Private Message to HudiniEdit/Delete MessageReply w/QuoteDirect Link to This Post
I've got a Model 1100 in 12 gauge that is the bees knees. My parents bought it for me in 1974 as a birthday gift. It was something like $75. It still shoots straight and goes bang reliably.

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